WIMBORNE, England, Sept. 15 (UPI) -- Britain's Cobham plc has completed acquisition of Aeroflex Holding Corp., a U.S. company involved in wireless, space and microelectronics.
Cobham said the enterprise value of the transaction is $1.46 billion.
"We are pleased to welcome Aeroflex into the Cobham family of businesses," said Cobham Chief Executive Officer Bob Murphy. "The combination of our technology companies is absolutely aligned with our strategic objective of building and maintaining leading positions in selected higher growth, commercially oriented end markets that increasingly demand more data, connectivity and bandwidth."
Cobham is a major player in the areas of data communications; defense electronics; air-to-air refueling; aviation services; life support and mission equipment. It said acquisition of Aeroflex will increase the proportion of its commercial revenue from 35 percent to about 42 percent on a pro forma basis.
Aeroflex operations will be integrated into Cobham's Advanced Electronic Solutions and Communications and Connectivity sectors.
